Forex Day Trader's Thread

PIP... i spotted this bearish reveral in usd/cad in an early stage.. however me must see how far this wil set through..

see you in usa morning
 
possible scenarios ahead of trade figures

Hi all,

I'm generally a lurker but as I'm having a really tough time now with the Eur/Usd, I was wondering what the general consensus is on the various impending trade figures/news.

As you know, US retail figures are out later and early speculation (Bloomberg.com: Currencies) suggests that the numbers will be bad. Is that the correction that we're seeing at the moment?
Do you think that once figures are out, the bulls will be loose?

Or..

The run of dismal results from the EU will continue to depress the pair with a whammy coming tomorrow to rub salt in to the wound when the ECB announces rates?


Opinions anyone?
 
RidderTrade said:
PIP... i spotted this bearish reveral in usd/cad in an early stage.. however me must see how far this wil set through..

see you in usa morning
Click to expand...

you shorting the pair ridder or awaiting the figures. Oil inventory report could affect CAD, oil prices cud tank or rally. got to wait and see. I reckon it is worth shorting the pair
 
alt2w said:
Hi all,

I'm generally a lurker but as I'm having a really tough time now with the Eur/Usd, I was wondering what the general consensus is on the various impending trade figures/news.

As you know, US retail figures are out later and early speculation (Bloomberg.com: Currencies) suggests that the numbers will be bad. Is that the correction that we're seeing at the moment?
Do you think that once figures are out, the bulls will be loose?

Or..

The run of dismal results from the EU will continue to depress the pair with a whammy coming tomorrow to rub salt in to the wound when the ECB announces rates?


Opinions anyone?
Click to expand...

just dont worry about news.. use your analysis and system
 
tripleogstar said:
you shorting the pair ridder or awaiting the figures. Oil inventory report could affect CAD, oil prices cud tank or rally. got to wait and see. I reckon it is worth shorting the pair
Click to expand...

no i am not shorting cad.. i am on the sidelines with regard to currencies..
also it is likely only countetrend move, i rather prefer going with the trend

may god bless you
 
AWAKE! and slightly surprised to have made 130 pips on USD/CAD which I just banked.. My USD/CHF is -10 pips right now but they were both way, way underwater when I went to bed.. The Japanese pulled Pearl Harbor pt. 2 on me and murdered the USD during the Asian session.

Here's the deal with USD right now.. People are expecting horrific retail numbers in the US and as a result USD isn't all that popular right now.. However, the trend of Cable and Euro is still down!
 
Hi pip.. yeah cad is a bit surprising however it weakened to 1.21 before..

we will see..
 
Pippy5000 said:
AWAKE! and slightly surprised to have made 130 pips on USD/CAD which I just banked.. My USD/CHF is -10 pips right now but they were both way, way underwater when I went to bed.. The Japanese pulled Pearl Harbor pt. 2 on me and murdered the USD during the Asian session.

Here's the deal with USD right now.. People are expecting horrific retail numbers in the US and as a result USD isn't all that popular right now.. However, the trend of Cable and Euro is still down!
Click to expand...

I do I expect the euro to continue its downwards trend, but the sterling cud bounce back to over 1.50. People are going to realise that the U.S is going to be just as bad or even worse than the Uk in terms of GDP growth
 
unless people still consider the USD to be a safe haven, then your right about the continuation of the downward trend
 
The UK has 4 times the debt per capita of the US and the US government is still considered the safest bet in the world because they always pay their debts no matter how long it takes. It isn't really an issue of a bad economy, because we all have bad economies, it's an issue of "will my money be safe?" GBP would be a particularly bad choice because there's widespread speculation that the GBP might not even exist in the near future.. It survived wave 1 of the credit crunch but will it survive wave 2?

Really the volatility is so awful right now you could go long or short and with a big enough stop loss profit in either direction..
 
How much do u think the CAD will react to the oil inventory report at 15:30GMT, u reckong it could trigger a rally if inventories are lower than expected. I haven't traded the USD/CAD pair, so not really aware of the price action. Given the rally today, don't think anyone going to care bout the inventory report
 
I do believe the GBP will fare better than the EUR simply because the Europeans have done way too little, way too late and lack the central authority to stop a depression from happening. They are making all the same mistakes the US made in the 1930s by utterly refusing to face the truth. It took them far too long just to realize or admit that their economy was not decoupled from the US and the 50 billion Euro stimulus is just pitiful.. We're now seeing the credit ratings of Greece, Portugal and possibly Ireland downgraded and that is worse than you think.. They had better get with it and cut rates aggressively and GET RID OF TRICHET as soon as possible or they are doomed.
 
I'm out of USD/CAD but will buy another deep dip.. oil is the main driving force of the CAD and has the potential to really hammer it.. How many pips?? I really couldn't say.. I was really pissed off by the price action last night and created a thread of profanity that will continue to hang in the air for years to come..

it actually looks like I bailed out too early as it just hit 1.24
 
Pippy5000 said:
I do believe the GBP will fare better than the EUR simply because the Europeans have done way too little, way too late and lack the central authority to stop a depression from happening. They are making all the same mistakes the US made in the 1930s by utterly refusing to face the truth. It took them far too long just to realize or admit that their economy was not decoupled from the US and the 50 billion Euro stimulus is just pitiful.. We're now seeing the credit ratings of Greece, Portugal and possibly Ireland downgraded and that is worse than you think.. They had better get with it and cut rates aggressively and GET RID OF TRICHET as soon as possible or they are doomed.
Click to expand...

I definitely agree with you. I await to see a downgrading on eurozone debt. Carnage will follow
 
I will short USD/CAD around 1.25 .. USD/CAD is always really choppy and will correct lower..
 
Usually cutting rates will hurt a currency but the market will punish the Euro for NOT cutting rates enough as it will be a sign that they still don't get it..
 
Check out the hourlies on AUD/USD and witness the nastiest short squeeze of all time.. You'll see why I was so mad last night..
 
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